The morning news. [volume] (Savannah, Ga.) 1887-1900, 1887-08-29
STOCK BROKERS BOWED DOWN.

| STOCK BROKERS BOWED DOWN.
Russell Sage's Way of Saving Nickel.
NEW YORK, Aug 27.--"I tell yer it's a
holy terror down here" remarked the driver
of hanson waiting for customers the other
day, opposite the Stock Exchange. These
brokers can't be making much money" And
he crossed his legs on his high perch, leaned
over on mis- knee and ruefully pulled at red
moustache. He had a beard of weeks
| growth and one eye was bloodshot, partly,
! doubtless, from exposure to the blazing sun.
He had very presentable horse and con-
veyance.
Look at them carriages" he continued,
dolefully. Just look at EN-. Only hand
full on one block. Used to be nearly two
blocks of 'en, and brokers just jumped for
EN-. Now my expenses for this rig are
about SO 80 a day, countin' board for the
horse, repairs, my time and so on. What
dye think / made the other day! Fifty
cents. That happened two days hand run
min.
II used to make in good times So and 81
day. Now if yer make 80 or SO day yer
dom well. Where do the cabmen go in
these dull timesl Oh they go off up to I'm
ion square, Madison square, Thirty-fourth
street and other ferries and the steamboat
docks. That man with a coach over there
CClIl6S lOW1l mere when ULeT6 AIN U no luueF-
ais going on. It's enough funeral for him
down here only he don't make nothin' out of
it yer see What we wants is bull market.
That's what they say. Pm in favor of it
to onct"
He heaved sigh and relapsed into gloomy
silence.
The wall of Cabby.
He is not the only Wall street man bowed
down with disgust.
R11cinacc lie d,,n Commissions ara fauy
Expenses are heavy. New suits are scarce.
Brokers who once had half a dozen new
suits every summer now wear the half dozen
changes of last year, which betray the raw
ages of time They don't hire cabs, han
SONS or coaches They walk, or they take
the Broadway cars or the elevated road.
They used to clamor for cabs, and cabmen
were 1nagnates who laid down their own
law rs to prices. Now all is changed Cabby
sits on high like grim Moloch waiting for
victims, but they came not.
Few brokers are out of town. They are
scarce at Newport, Saratoga and Bar Har-
Dor. There are not so many as usual at
Long Branch Many of those who have left
town have not gone to the $5-a-day hotels.
They say it is healthier at the small hotels
or boarding houses in out of the way places
at 81 80 a day. Upin the Adirondack hunt
ing regions broker in good times would
paw high board and hire a guide at s. day.
Now he and other brokers go TO a cheap
boarding house, and half dozen will club
together and pay a guide 80 a day. That is
a tax of SOC. each, instead of 3d. saving of
1000 per cent.
Plenty of Wall street brokers are now at
obscure and unheard of villages, far from
the madding crowd. living on novel fare for
81 week. They say it is healthier than
Newport or Saratoga-late dinners and
languid breakfasts. They are right. But a
dull market, not the doctors, opened their
eyes.
Hundreds of brokers have remained in
the city. There are few big dinners. With
the mass it is no longer champagne; it is
beer. Beer and sandwiches, the latter, too,
often furnished gratuitously by the estab-
lshment which provides the beer for money
consideration
Beer and free lunch!
The iron has entered the soul of many q
once naughty broker. You may laugh, but
it is no joke-to him. A Wall street phil
anthropist filled with benevolent desire
to emancipate the relics of better days from
the degrading thralldom of beer, SAID the
other day:
1.-THE boys ought to take hint from a
little exploit of Uncle Russell Sage. He
went into a free lunch place on one occa-
sion and began munching a sandwich.
Presently an acquaintance entered and
II
Let me have the 15c., will yous" said the
economical Sage Russell His friend handed
it to him. Sage added 10c. to the IS and
then turned to the barkeeper and ordered
two drinks of whisky. 1.-TWO for quarter,
you know said Sage in explanation to his
astonished friend. "You don't pay any
more than you would in any case, and I
save SC. If the brokers will pool their
issues and unite on this basis, whisky may
vet be within the reach of many who now
look and long, MUNICH gift sandwiches and
| pull at humble beern
But said that many brokers remain in
town. They do. 1t is one of the solemn
| facts of the season. Some of them take SOC.
| trips to Coney Island. For instance, let us
say the broker takes the $50 p. m. boat for
| the Iron Pier. He arrives there at $50:
stays there till $50; gets back to New York
| by9:50. He has three hours of cool pleasure
| for SOC. A large number of brokers take
! these trips, some every eveningssome once
| a week
"Well, :" said broker in referring to this
| fact, lit does them more good to go down
| there in quiet economical way than to go
| off to summer resorts and spend their money
| for whisky"
But the dizziness of the stock speculation
has its serious side. Brokers donts laugh
| about 1t. Some houses have given up pri-
vate wires, discharged stenographers and
telegraph operators and closed branch
| offices. One firm told their clerks that they
could take tho usual two weeks vacation
with pay and stay two months, if they
liked, without pay, agreeing at the same
time to employ them on their return.
But there is an old saying: "When
things get to their worst then they i'm
| prove" and having doubtless reached the
worst we may not unreasonably expect a
better business in stocks and more cheerful
| times this fall